Quote:
Originally posted by Rodeo
I can't believe no one has brought up adverse possession. In my state, and many others, if that house was encroaching on the land for 10 or more years, THE LADY OWNS IT. And if her yard is on the side of her house and she (or prior owners) has cared for it for ten or more years, THE LADY OWNS THE SIDEYARD TOO.
Check the laws in your state. If she has a valid adverse possession claim, sell her the property for what you have into it. Otherwise, you are not buying a lot. You are buying an expensive lawsuit that will ultimately net you something less than the entire lot.
If what you're left with after he claim is not buildable, you are screwed. At that point might as well sell it to her for a buck. Better than paying taxes and insurance on it for the rest of your life.
|
The possesion has to be open and notorious. In other words the owner of the land the house was on would have to know it was on there and do nothing for XX amount of years and then the squatter could then declare adverse possesion.
I do not know if I had been clear. The reason I offered to buy the land 30 months ago was because I value my relationship with this particualr client. I wanted to try to make it right. I knoew that the lot would have to be bought and I was not offering to turn a profit.
I am not buying the lot to flip it I am mearly honoring a deal I made 2 years ago with my builder.